Browsing: Business

Do Kwon, the South Korean entrepreneur behind the collapse of the TerraUSD and Luna cryptocurrencies, has pleaded guilty in a United States federal court to two counts of conspiracy to defraud and wire fraud. The plea marks a major development in a case stemming from one of the most significant failures in the cryptocurrency sector, which wiped out an estimated $40 billion in market value in 2022. Kwon, 33, appeared before Judge Paul Engelmayer in a Manhattan courtroom on Tuesday, reversing his earlier not-guilty plea. He admitted to knowingly misleading investors about the stability of TerraUSD, a so-called stablecoin that was intended to maintain a $1…

Tech leaders from Amazon to Microsoft are cutting jobs as AI-driven automation reshapes work, streamlining operations across major corporations.

Bitcoin neared $122k and ether hit $4,300 after Trump’s order to explore crypto in 401k plans, with institutional demand and ETF inflows fueling gains.

Switzerland faces steep 39% US tariffs after failed talks, threatening exports from luxury watches to gold refining and sparking urgent negotiations.

Inflation is rising while US job growth slows, with tariffs, labor shortages, and policy uncertainty driving fears of stagflation-lite.

US tariffs on one-kilo gold bars send Comex futures to a record high, widening the gap with London prices and sparking concern over global supply chains.

Trump signs an executive order to open 401(k) plans to private equity and cryptocurrencies, signaling a major shift in U.S. retirement investment strategy.

AT&T CEO John Stankey confirms hybrid work’s end and directs employees to align with the company’s new results-driven and office-based culture.

Intel CEO Lip-Bu Tan faces calls to resign from Trump and Sen. Cotton over alleged China ties, prompting stock drop and renewed national security scrutiny.

Apple commits $600 billion to U.S. investments over four years, launching a new program to bring more advanced manufacturing to American suppliers.